Edgestream Partners L.P. Sells 1,395 Shares of Waters Co. (NYSE:WAT)

Edgestream Partners L.P. cut its stake in shares of Waters Co. (NYSE:WAT) by 22.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,716 shares of the medical instruments supplier’s stock after selling 1,395 shares during the quarter. Edgestream Partners L.P.’s holdings in Waters were worth $1,257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. ANTIPODES PARTNERS Ltd bought a new position in Waters during the first quarter worth $25,000. PSI Advisors LLC bought a new position in Waters during the second quarter worth $26,000. Institutional & Family Asset Management LLC bought a new position in shares of Waters in the second quarter valued at $27,000. Cascade Investment Advisors Inc. bought a new position in shares of Waters in the first quarter valued at $31,000. Finally, Clear Street Markets LLC lifted its stake in shares of Waters by 94.9% in the first quarter. Clear Street Markets LLC now owns 115 shares of the medical instruments supplier’s stock valued at $36,000 after buying an additional 56 shares in the last quarter. 94.01% of the stock is owned by institutional investors.

Waters Stock Performance

NYSE WAT opened at $261.04 on Tuesday. Waters Co. has a 52-week low of $231.90 and a 52-week high of $353.70. The company has a 50-day simple moving average of $260.15 and a 200 day simple moving average of $267.56. The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.46 and a current ratio of 2.19. The company has a market capitalization of $15.44 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 5.83 and a beta of 0.90.

Waters (NYSE:WAT) last posted its quarterly earnings data on Tuesday, November 7th. The medical instruments supplier reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.28. Waters had a net margin of 21.80% and a return on equity of 102.22%. The business had revenue of $711.69 million during the quarter, compared to the consensus estimate of $722.27 million. During the same quarter last year, the company posted $2.64 earnings per share. The firm’s quarterly revenue was up .4% compared to the same quarter last year. On average, research analysts predict that Waters Co. will post 11.69 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Waters from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 8th. TheStreet downgraded shares of Waters from a “b-” rating to a “c+” rating in a report on Wednesday, October 18th. Stifel Nicolaus lowered their target price on shares of Waters from $305.00 to $290.00 and set a “hold” rating for the company in a report on Wednesday, November 8th. StockNews.com began coverage on shares of Waters in a report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Barclays downgraded shares of Waters from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $270.00 to $230.00 in a report on Monday, November 13th. One analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $298.00.

Waters Profile

Waters Corporation, a specialty measurement company, provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments, Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.